Bitmine Buys 65,341 ETH, Now Holds 3.86% of Supply
Bitmine acquired 65,341 ETH since March 16 for about $140 million, lifting its treasury to 4.661 million ETH (3.86% of circulating supply) and $11 billion in crypto and cash holdings. With 3.14 million ETH staked at a 2.83% yield (generating $272 million annually), the firm forecasts a nearing Ethereum market bottom.
1. ETH Accumulation Strategy
Bitmine purchased 65,341 ETH since March 16, spending approximately $140 million to capitalize on the price dip. These acquisitions have accelerated weekly over the past three weeks, reinforcing the company’s conviction in a near-term market rebound.
2. Treasury and Staking Yield
The firm’s treasury now holds 4.661 million ETH—3.86% of the 120.7 million circulating tokens—plus $11 billion in combined crypto and cash. Of that, 3.14 million ETH is staked at a 2.83% yield, generating about $272 million in annual revenue.
3. Market Outlook and Timing
Leadership believes Ethereum is in the final phase of its mini winter, noting an 18% price rise since regional conflict escalation and a 2,450 basis-point outperformance versus equities. Price targets range from $4,500 year-end to $7,500 next year, contingent on regulatory clarity and stablecoin supply expansion.
4. Technical Resistance Levels
Ethereum is consolidating between $2,100 and $2,250 after testing $1,800 in late Q1. The 200-day EMA at $2,400 remains the key hurdle; a successful breakout could open paths to $3,000–$3,200, while failure may revisit $1,900–$2,000 support.